Aston Villa reveal financial results as club confirms FFP compliance
Villa say they have complied with both Football League and Premier League Financial Fair Play rules despite reporting a £68.9million loss for the last financial year.
The bulk of those losses featured £45.8m of promotion-related costs, including a £30m bonus paid to former owner Randy Lerner.
But Villa were able to comply with FFP thanks in large part to the £58.7m sale of Villa Park to a company controlled by owners Nassef Sawiris and Wes Edens.
A club statement read: “Aston Villa can confirm that in the 3-year period ending May 31, 2019, the Club complied with the EFL’s Profitability & Sustainability Rules.
“After promotion, The Premier League reviewed and confirmed compliance in accordance with their own policies and procedures.”
Sawiris and Edens pumped £105.7m to the club in the form of capital injections, including £30m to cover the debt to Lerner which had originally been owed by the American’s successor Tony Xia.
However, Xia business had been defaulted on the payment meaning the debt instead fell to the club.
The liability was settled through payment on July 12, 2019. As a result, the Club made provision for a £30m liability in the 2018/19 year-end accounts.
The results reveal turnover was down by £14.3m to £54.3m compared to the previous year - mainly due to a reduction in Premier League parachute payments in the third successive season the club competed in the Championship.
